Apparently the oil is going through some complex correction pattern. The best way I can label it as ABCDE which either have just been completed or will take another week to complete. Yesterday, after being stopped out several times I was able to jump back in at 53.2 at the bottom (though trading like this is not sustainable) and now intend to ride it to 56-56.5 level.
What bugs me a lot is unbroken synchrony with SPX. I expect SPX to go down while I see the oil price going up. There has to be some major news about oil supply disruption in a coming week otherwise I am wrong about either of two.